Akobo Minerals

Capital/Financing Update • Nov 13, 2024

Akobo Minerals announces minor adjustment to convertible loan amount

Akobo Minerals announces minor adjustment to convertible loan amount

OSLO, 13 November 2024: With reference to the press release issued on 05

November 2024 regarding the issuance of a NOK 25.3 million unsecured convertible

loan, Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO) (the "Company")

announces a minor adjustment to the total loan amount where an additional NOK

200,000 has been added to the loan. As a result, the total convertible loan now

stands at NOK 25.5 million. The terms and conditions of the loan, including

interest rate, conversion options, and maturity, remain unchanged as previously

communicated.

For further information, please refer to the original press release dated 05

November 2024.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.This information is considered to be

inside information pursuant to the EU Market Abuse Regulation and was published

by Jørgen Evjen, CEO, on the date and time provided herein.

For more information, contact

Jørgen Evjen, CEO?Akobo Minerals

Mob: +47?92 80 40 14

Mail: jorgen@akobominerals.com

LinkedIn: www.linkedin.com/company/akobominerals

www.akobominerals.com

About Akobo Minerals

Akobo Minerals is a Scandinavian-based gold exploration and mining company,

currently holding an exploration license covering 182 km2 and a mining license

covering 16 km2 in the Gambela region and Dima Woreda, Ethiopia. With over 14

years of active operations on the ground, the company has established a strong

foothold in Ethiopian gold exploration, now further strengthened with the

startup of its Segele mine.

Akobo Minerals' Segele mine has an Inferred and Indicated Mineral Resource of

68,000 ounces, yielding a world-class gold grade of 22.7 g/ton The mineralized

zone remains open at depth, supporting future resource estimates and extending

the mine's life. The exploration license holds numerous promising exploration

resource-building prospects in both the vicinity of Segele and in the wider

license area.

Akobo Minerals maintains strong relationships with local communities and

government authorities, placing ESG principles at the core of its operations.

The company's commitment to sound ethics, transparency, and stakeholder

engagement is evident through its industry-leading extended shared value

program.

Akobo Minerals is ready to take on new opportunities and ventures as they arise.

The company is uniquely positioned to become a major player in the future

development of the very promising Ethiopian mining industry.

The company is headquartered in Oslo and is publicly listed on the Euronext

Growth Oslo Exchange and the Frankfurt Stock Exchange under the ticker symbol

AKOBO. For US investors, Akobo Minerals

AB (https://www.otcmarkets.com/stock/AKOBF/quote?utm_source=Press+Release&utm_med

ium=Press+Release&utm_campaign=New+OTCQX+Company) (OTCQX: AKOBF) is traded on

the OTCQX Best Market, adhering to high financial standards, best practice

corporate governance, and compliance with U.S. securities laws. Additionally,

the company has a professional third-party sponsor introduction, and investors

can access current financial disclosures and Real-Time Level 2 quotes for the

company on www.otcmarkets.com.

Akobo Minerals places great emphasis on meeting and exceeding industry

standards, fully complying with all aspects of the JORC code, 2012. For detailed

information on their adherence to this code, please refer to

https://www.jorc.org/. Akobo Minerals' unwavering commitment to ethical

practices, community engagement, and environmental responsibility positions them

as a formidable force in the evolving landscape of the Ethiopian mining sector.

Important informationThis release is not for publication or distribution,

directly or indirectly, in or into Australia, Canada, Japan, the United States

or any other jurisdictions where it would be illegal. It is issued for

information purposes only and does not constitute or form part of any offer or

solicitation to purchase or subscribe for securities, in the United States or in

any other jurisdiction. Thesecurities referred to herein have not been, and will

not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S.

Securities Act"), and may not be offered or sold in the United States absent

registration or pursuant to an exemption from registration under the U.S.

Securities Act. Akobo Minerals does not intend to register any portion of the

offering of the securities in the United States or to conduct a public offering

of the securities in the UnitedStates. Copies of this publication are not being,

and may not be, distributed or sent into Australia, Canada, Japan or the United

States.